State Street Corp Increases Holdings in AMC Entertainment Holdings, Inc. (NYSE:AMC)

State Street Corp lifted its holdings in shares of AMC Entertainment Holdings, Inc. (NYSE:AMC) by 14.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,353,442 shares of the company’s stock after purchasing an additional 936,618 shares during the quarter. State Street Corp owned about 2.03% of AMC Entertainment worth $33,458,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its stake in AMC Entertainment by 153.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,705,500 shares of the company’s stock worth $16,860,000 after purchasing an additional 2,243,052 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of AMC Entertainment by 18.2% in the second quarter. Renaissance Technologies LLC now owns 10,285,826 shares of the company’s stock valued at $51,223,000 after purchasing an additional 1,585,430 shares during the period. Marshall Wace LLP acquired a new stake in AMC Entertainment during the 2nd quarter worth approximately $6,775,000. Bank of New York Mellon Corp increased its position in shares of AMC Entertainment by 92.5% during the second quarter. Bank of New York Mellon Corp now owns 1,086,600 shares of the company’s stock worth $5,411,000 after acquiring an additional 522,063 shares during the period. Finally, Rhumbline Advisers increased its holdings in AMC Entertainment by 150.3% during the 2nd quarter. Rhumbline Advisers now owns 437,501 shares of the company’s stock worth $2,179,000 after purchasing an additional 262,701 shares during the period. Hedge funds and other institutional investors own 28.80% of the company’s stock.

AMC Entertainment Stock Performance

Shares of AMC Entertainment stock opened at $4.18 on Friday. The company has a market capitalization of $1.57 billion, a P/E ratio of -2.60 and a beta of 1.85. AMC Entertainment Holdings, Inc. has a 1 year low of $2.38 and a 1 year high of $11.88. The company’s fifty day moving average is $4.47 and its two-hundred day moving average is $4.75.

AMC Entertainment (NYSE:AMC) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.03. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm earned ($0.09) EPS. The business’s revenue was down 4.1% on a year-over-year basis. As a group, equities analysts expect that AMC Entertainment Holdings, Inc. will post -1.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on AMC shares. Macquarie reaffirmed an “underperform” rating and set a $4.00 price objective on shares of AMC Entertainment in a research report on Wednesday, November 13th. StockNews.com raised shares of AMC Entertainment to a “sell” rating in a report on Tuesday, November 12th. Benchmark restated a “hold” rating on shares of AMC Entertainment in a report on Thursday, November 7th. Finally, B. Riley cut their price target on shares of AMC Entertainment from $8.00 to $6.00 and set a “neutral” rating on the stock in a research note on Thursday, November 7th. Four analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Based on data from MarketBeat, AMC Entertainment presently has an average rating of “Reduce” and an average target price of $5.44.

AMC Entertainment Company Profile

AMC Entertainment Holdings, Inc, through its subsidiaries, engages in the theatrical exhibition business. It owns, operates, or has interests in theatres in the United States and Europe. The company was founded in 1920 and is headquartered in Leawood, Kansas.